Vietnam to Borrow World Bank $200M for Power Projects

Vietnam’s Prime Minister Nguyen Tan Dung has approved a document regulating conditions in borrowing $200 million from the World Bank to conduct power projects. The PM asks the Ministry of Industry and Trade to carry out procedures for the third phase of the development policy loans (DPL3). Vietnam continues to borrow foreign loans to build its power industry, which is forecast to cost VND929.7 trillion ($45 billion) until 2020. The Southeast Asian country has taken drastic measures to improve transparency in the power sector in a bid to attract foreign investment inflows. (Dau Tu – Investment April 16 p2)